Buying Into Baltimore Homebuying Fair East 2011

The Buying into Baltimore Homebuying Fair for the East side is this Saturday, September 10, 2011 from 8:30am-2pm.

The event begins at Mergenthaler Vocational Technical High School (“Mervo”) with Check-in and Neighborhood tour sign up from 8:30-11am. There is a $10 per person charge to participate.

Home buying classes are 9-11:00am, then 11am-1:15pm are the neighborhood tours. Participants must visit at least four of the houses to qualify for the award.

What is the award? A $4,000 forgivable loan that after five years doesn’t have to be repaid, if you still live in the property you buy using that money as the primary owner.

How do you know if you qualify?

From the Live Baltimore website:

How do I get the $4,000 award?

You will be eligible for the award funds if all of the following conditions are met:

• A current homeownership counseling certificate is required. Counseling must be completed BEFORE signing a contract of sale. Click here for a list of housing counseling agencies.
• You must use this home as your primary residence.
• You close on your new home within 90 days from the event date. Contracts signed prior to the event will not be eligible for the award funds.
• Your property is within the fair boundaries.
• Your mortgage amount cannot exceed $417,000.
• You are encouraged to use a Fannie Mae or Freddie Mac approved lender.
• You must invest a minimum of $1,000 from personal funds/resources.
• Purchase contracts must be signed and dated after the “Buying into Baltimore” event, not before. Contracts signed prior to the event date will not be accepted.

You must be one of the first 50 people to meet these qualifications and submit your validated/stamped ticket, proof of homeownership counseling, signed contract of sale & photo ID to Baltimore Housing, Office of Homeownership (417 E. Fayette Street, Suite 1125, Baltimore, MD 21201).

The boundary/dividing line is:

Boundary dividing line:

Starting from the North (Baltimore City/Baltimore County Line)…

• Head South on Charles St.
• To West on 29th St.
• To South on Howard St.
• To West on Camden St.
• To South on Russell St. and continue to County Line

So if you are considering buying a house in East Baltimore City, contact me to learn more!

 

Buying into Baltimore $4,000 Incentive Fall 2010

Buying a home Baltimore just became a little sweeter for homebuyers looking on the east side.

The Housing Authority of Baltimore City sent a press release out this morning with this great announcement that 50 eligible buyers participating in the Buying into Baltimore event on September 11, 2010 will receive $4,000 towards their new home, an increase of $1,000 over the past 13 years of the program. These are 5 year forgivable loans, meaning that if the buyers remain in the home for 5 years, they will not have to repay.

The Spring Buying into Baltimore Fair was held on May 8, and was a great success.

September’s Buying into Baltimore Event & Tour will begin at Mergenthaler Vocational Technical High School on Hillen Road in Baltimore from 8:30 am – 2 pm.

From the press release:

To receive the money, participants must:
1) live in the desired home as the primary owner/occupant,
2) possess a valid homeownership counseling certificate,
3) participate in the “Buying into Baltimore” tour and have the tour ticket validated at four homes,
4) buy in the eastern part of Baltimore (see Live Baltimore website for boundary details),
5) purchase a home that is less than $417,000, and
6) sign the home sales contract after the event takes place.

Funds are distributed on a first-come, first-served basis. Participants must close on a house within 90 days of the eastern region fair to receive the $4,000 award. There are no income restrictions on this program, nor does a recipient have to be a first-time homebuyer.

The Boundaries, from the Live Baltimore website are:

Boundary dividing line:

Starting from the North (Baltimore City/Baltimore County Line)…

• Head South on Charles St.
• To West on 29th St.
• To South on Howard St.
• To West on Camden St.
• To South on Russell St. and continue to County Line

So if you are considering buying a house in East Baltimore City, contact me to learn more!